Arrowstreet Capital Limited Partnership Takes Position in Brookfield Asset Management Ltd. (NYSE:BAM)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 346,785 shares of the financial services provider's stock, valued at approximately $18,785,000. Arrowstreet Capital Limited Partnership owned 0.08% of Brookfield Asset Management at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Tandem Capital Management Corp ADV grew its stake in Brookfield Asset Management by 0.4% during the fourth quarter. Tandem Capital Management Corp ADV now owns 39,111 shares of the financial services provider's stock worth $2,119,000 after purchasing an additional 175 shares during the period. Gold Investment Management Ltd. grew its position in shares of Brookfield Asset Management by 0.5% during the 4th quarter. Gold Investment Management Ltd. now owns 41,889 shares of the financial services provider's stock worth $2,271,000 after buying an additional 219 shares during the period. Procyon Advisors LLC grew its position in shares of Brookfield Asset Management by 2.7% during the 4th quarter. Procyon Advisors LLC now owns 9,312 shares of the financial services provider's stock worth $505,000 after buying an additional 249 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Brookfield Asset Management by 35.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,227 shares of the financial services provider's stock valued at $66,000 after acquiring an additional 319 shares in the last quarter. Finally, Continuum Advisory LLC lifted its position in shares of Brookfield Asset Management by 42.2% during the 3rd quarter. Continuum Advisory LLC now owns 1,109 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 329 shares during the period. 68.41% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several research firms have weighed in on BAM. CIBC lifted their price target on shares of Brookfield Asset Management from $63.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. HSBC upgraded Brookfield Asset Management from a "hold" rating to a "buy" rating in a research note on Friday, February 14th. Keefe, Bruyette & Woods dropped their price target on Brookfield Asset Management from $57.00 to $56.00 and set an "underperform" rating on the stock in a research note on Monday, January 13th. Scotiabank cut their price target on Brookfield Asset Management from $62.50 to $58.00 and set a "sector outperform" rating on the stock in a report on Monday. Finally, Wells Fargo & Company decreased their price objective on Brookfield Asset Management from $50.00 to $48.00 and set an "underweight" rating for the company in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $57.75.

Brookfield Asset Management Stock Performance

BAM traded up $4.72 during mid-day trading on Wednesday, reaching $47.62. 7,011,268 shares of the stock were exchanged, compared to its average volume of 1,438,472. Brookfield Asset Management Ltd. has a 1 year low of $37.29 and a 1 year high of $62.61. The stock has a market capitalization of $77.97 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 1.92 and a beta of 1.63. The company has a 50 day moving average price of $52.33 and a two-hundred day moving average price of $53.58.

Brookfield Asset Management (NYSE:BAM - Get Free Report) TSE: BAM.A last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. Brookfield Asset Management had a net margin of 54.47% and a return on equity of 81.16%. Sell-side analysts expect that Brookfield Asset Management Ltd. will post 1.7 EPS for the current fiscal year.

Brookfield Asset Management Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, February 28th were issued a dividend of $0.4375 per share. This is a positive change from Brookfield Asset Management's previous quarterly dividend of $0.38. This represents a $1.75 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Friday, February 28th. Brookfield Asset Management's dividend payout ratio (DPR) is 132.58%.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.